Speed Post News Network
New Delhi : The Government of India on January 11, 2020, promulgated.an Ordinance for amendment in the MMDR (Mines and Minerals Development & Regulation) Act 1957 and the CMSP (Coal Mines Special Provisions) Act 2015. The Union Cabinet had earlier approved the amendments intending to open up new areas of growth in the coal & mining sector.
The amendments in the Acts would enable the following: Enhancing the ease of doing business; Democratisation of coal mining sector by opening it up to anyone willing to invest; Offering of unexplored and partially explored coal blocks for mining through prospecting license-cum-mining Lease (PL- cum-ML); Promoting Foreign Direct Investment in the coal mining sector by removing the restriction and eligibility criteria for participation; Allowing of successful bidder/allottee to utilise mined coal in any of the plant of its subsidiary or holding company; and Attracting large investment in coal mining sector as restrictions of end use has been dropped.
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